CE Software, Inc. - Press Releases & Announcements

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FOR RELEASE: Tuesday, August 15, 2000, 8:00 A.M.

Company Contacts :

John S. Kirk
President
CE Software, Inc.
john.kirk@cesoft.com
(515) 221-1801

CE Software, Inc. Reports Third-Quarter Results

West Des Moines, Iowa, August 15, 2000 -- CE SOFTWARE, INC. (OTCBB Symbol: CESW) today announced financial results for its third quarter ended June 30, 2000.

CE Software reports a net loss of $74,000, or $0.07 per share, for the quarter. The same quarter a year ago saw a net loss of $54,000, or $0.05 per share. Revenues were $752,000 for the quarter ended June 30, 2000, compared to $1,347,000 for the same quarter a year ago.

The revenue decrease is reflective of a strong third-quarter a year ago when the Company released upgrades for both the QuicKeys and QuickMail products. However, the $752,000 in revenue for this quarter is generally consistent with the previous quarter's revenue of $735,000.

"We are pleased to have completed the spin-off (distribution) from CE Software Holdings, Inc. on April 28, 2000," said John S. Kirk, President. "We are now a separate public company with our stock trading on the OTC Bulletin Board. As part of the spin-off, we received an increase in paid-in capital of $1,123,000, consisting of debt reduction and cash. Subsequent to the spin-off we received an additional $341,000 in cash as paid in capital, of which $314,000 was received after June 30, 2000, the date of our most recent quarterly report.

"CE Software Holdings, Inc. is now Lightning Rod Software, Inc. (Nasdaq SC Symbol: LROD)."

Since 1981, CE Software, Inc. has developed automation utilities and E-mail software that save time and effort for millions of Microsoft Windows 95/98, Windows NT/2000 and Macintosh users. For more information: www.cesoft.com or (515) 221-1801.

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(c) Copyright 2000 CE Software, Inc. All rights reserved. QuickMail, QuicKeys, CE Software, CE and the CE Software logo are trademarks of CE Software, Inc. All other brand or product names are trademarks of their respective owners.


CE SOFTWARE, INC.
Condensed Statements of Operations
(In thousands, except per share data)

 

Three months ended
June 30

Nine months ended
June 30

 

2000


1999


2000


1999


 
Net revenues

$752

$1,347

$2,402

$2,796

Cost of revenues

147


237


580


607


   Gross profit

605

1,110

1,822

2,189

 
Operating expenses

683


1,117


2,250


3,278


   Operating loss

(78)

(7)

(428)

(1,089)

 
Other income (expense)

4


(61)


(3)


(208)


   Loss before income taxes

(74)

(68)

(431)

(1,297)

 
Income tax (benefit) expense

(-)


(14)


(-)


(473)


   Net loss

$(74)


$(54)


$(431)


$(824)


 
Net loss per share

$(.07)

$(.05)

$(.38)

$(.73)

 
Weighted avarage common shares

1,131

1,131

1,131

1,131

         


Selected Financial Data
(in thousands)

 

June 30,

September 30,

 

2000


1999


 
Cash and cash equivalents

$402

$227

Long-term debt

267

341

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